Israeli startup Astrix Security raises $45m

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The Tel Aviv-based company is redefining identity security for the AI era.

Israeli cybersecurity company Astrix Security has announced the completion of a $45 million Series B financing round led by Menlo Ventures (through their Anthology Fund) with the participation of Workday Ventures, as well as existing investors, Bessemer Venture Partners, CRV, and F2 Venture Capital.

Founded in Tel Aviv in 2021 by CEO Alon Jackson and CTO Idan Gour, two veterans of the IDF 8200 military intelligence unit, Astrix redefines identity security for the AI era. The company's mission is to secure enterprises’ biggest identity blind spot with an infrastructure that ensures trusted access to critical systems and expansion to all identities, including humans.

As organizations increasingly US AI and rely on "virtual employees" to help support human workflows, the very definition of the "workforce" will change, forcing enterprises to rethink their existing identity and access management approaches. Non-Human Identities (NHIs), such as API keys, service accounts, and secrets, have been repeatedly exploited in recent high-profile cyberattacks such as those reported by Microsoft and Okta. With the rapid adoption of AI agents - software programs that enhance productivity by automating tasks - securing NHIs is becoming even more imperative.

Jackson says, "From inception, we’ve been laser-focused on securing enterprises' most vulnerable entry points and defining the NHI security domain. Now, with AI driving the proliferation of API keys, service accounts, and other NHIs in the enterprise, our mission has never been so critical and complex. Our innovative technology will go beyond governance to ensure secure access of human and non-human identities to the enterprise's most sensitive environments and data." Since raising its Series A funding last year, Astrix has grown fivefold and tripled the size of its team to support its growing Fortune 500 customer base, which includes organizations such as Figma, Netapp, Priceline, and Workday.

Published by Globes, Israel business news - en.globes.co.il - on December 10, 2024

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